Executive Bodies

The management of the current activities of Kubanenergo PJSC is carried out by the sole executive body — the General Director and the collegial administrative body — the Management Board. The General Director and the Management Board are accountable to the General Meeting of Shareholders and the Board of Directors of the Company. By the Articles of Association of the Company, the General Director is elected by the Board of Directors, and he/she appears to be the Chairman of the Management Board.

The Board of Directors also elects the members of the Management Board by the proposal of the General Director of the Company in a number, determined by the decision of the Board of Directors. Each member of the Board, including the Chairman of the Board, has the experience, knowledge, and qualifications necessary for the proper performance of the assigned duties. The General Director and members of the Board act in good faith in the interests of the Company and all of the Company shareholders. The Board members disclose to the Company all the information about their commercial activities unrelated to the interests of the Company, to prevent conflicts of interest and related possible negative consequences for the Company.